Idaho Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Idaho real estate exam and test a focused set of calculations: commission splits, prorations (property tax, rent, interest), loan-to-value ratios, appreciation and depreciation, and area calculations. The Idaho Real Estate Commission does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Idaho candidates consistently lose points on proration questions because they apply the wrong day-count convention (360-day vs. 365-day year) or miscalculate the seller's vs. buyer's share. Work through every problem in this section until you can solve each type without hesitation.
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Idaho Real Estate Math — Practice Questions & Answers
169 questions on Real Estate Math from the Idaho real estate question bank. First 10 are free — sign up to unlock all 169.
Q1. A home in Idaho sells for $425,000. The buyer obtains a conventional loan with a 20% down payment. What is the loan amount?
Explanation
Down payment = $425,000 × 20% = $85,000. Loan amount = $425,000 − $85,000 = $340,000.
Q2. A property has a gross monthly rent of $2,400. Using a gross rent multiplier (GRM) of 120, what is the estimated property value?
Explanation
Property Value = Gross Monthly Rent × GRM. $2,400 × 120 = $288,000.
Q3. A salesperson earns a 3% commission on the sale of a $380,000 property. The salesperson's broker takes a 40% split of the commission. How much does the salesperson keep?
Explanation
Total commission = $380,000 × 3% = $11,400. Broker's split = $11,400 × 40% = $4,560. Salesperson's share = $11,400 − $4,560 = $6,840.
Q4. A property is assessed at 80% of its market value of $300,000. The property tax rate is $12 per $1,000 of assessed value. What is the annual property tax?
Explanation
Step 1: Assessed value = $300,000 × 80% = $240,000. Step 2: Tax = ($240,000 ÷ $1,000) × $12 = 240 × $12 = $2,880.
Q5. An Idaho property has a market value of $550,000. The assessment ratio is 100% and the mill rate is 14 mills. What is the annual property tax?
Explanation
One mill = $1 per $1,000 of assessed value. Assessed value = $550,000 × 100% = $550,000. Tax = $550,000 × (14/1,000) = $550,000 × 0.014 = $7,700.
Q6. A property sells for $475,000. The listing agent receives a 6% commission, split equally between listing and buying sides. What does the listing agent's broker receive?
Explanation
Total commission = $475,000 × 6% = $28,500. Listing side = $28,500 ÷ 2 = $14,250. The listing broker receives $14,250.
Q7. A buyer makes a 10% down payment on a $320,000 home. PMI costs 0.8% of the loan amount annually. What is the monthly PMI payment?
Explanation
Loan amount = $320,000 × 90% = $288,000. Annual PMI = $288,000 × 0.8% = $2,304. Monthly PMI = $2,304 ÷ 12 = $192.00.
Q8. A rectangular lot measures 150 feet wide by 200 feet deep. What is the area in acres? (1 acre = 43,560 sq ft)
Explanation
Area = 150 × 200 = 30,000 sq ft. Acres = 30,000 ÷ 43,560 = 0.688 acres, approximately 0.69 acres.
Q9. A property with an NOI of $45,000 sells at a 7.5% capitalization rate. What is the sales price?
Explanation
Value = NOI ÷ Cap Rate = $45,000 ÷ 0.075 = $600,000.
Q10. A seller wants to net $280,000 after paying a 6% commission. What must the property sell for?
Explanation
Net = Sales Price × (1 - 0.06). $280,000 = Sales Price × 0.94. Sales Price = $280,000 ÷ 0.94 = $297,872 (rounded).
Q11. A property appreciated 5% per year for 3 years. If the original value was $250,000, what is its current value?
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